President Obama has signed $2.5 trillion of spending cuts into law. Spending under the Obama Administration has grown more slowly than under any president in 60 years. In fact, federal spending grew about six times faster under Reagan and Bush than it has grown under President Obama.
Goldman Sachs predicts unprecedented decline in government spending. Alec Philips put the coming era of federal spending cuts in some historical context and you can see that the cuts are big. This is a look at federal consumption and investment. The state and local spending cuts era has been under way for a while.
We need to invest $50 billion from the surface transportation reauthorization bill for infrastructure. Another $30 billion to modernize at least 35,000 schools and help states and localities retain and hire teachers and first responders.
— Charles D. Mumaw